What Coverage Comes With Commercial Insurance?

When you run a business in Niles, IL your company faces a spectrum of risks including legal liability and financial loss, making it critical to have insurance to mitigate financial ruin. Commercial policies are designed to help businesses protect their operations from lawsuits. Each policy is different, which is why it helps to understand the options available to business owners and operators.

Commercial general liability insurance is a basic policy that is available to businesses that protect owners from liability. This includes claims arising from bodily injury, property damage, slander and false advertising. You can get coverage for your premises, or for claims arising from the use of your products or services. You can further supplement your policy with excess liability coverage, which raises the dollar thresholds that an insurer will pay out.                       

You can also get an umbrella policy for your business that further augments your commercial policy. The umbrella will payout sums above all of your other coverage options. This is an important layer of coverage for business owners that operate in high-risk industries, or for those that have large assets. A qualified insurance specialist at Bob Korvas Agency Inc. in Niles, IL can walk through the different coverage thresholds associated with commercial insurance. During this process, you will come to understand basic coverage and the supplemental policies that you’ll need, to prevent business disruptions from lawsuits.

Commercial insurance has the power to protect businesses from financial risks attributable to legal liability. To learn more about these important policies and the coverage options available, please contact Bob Korvas Agency Inc. in Niles, IL. Businesses are exposed to a myriad of risks, and mitigating those threats through insurance is a prudent decision.

Commercial Insurance for Personal Service Operations

Daycare centers, hairdressers, nail salons, skin-care clinics, and other personal service industries need commercial insurance to provide adequate coverage for their operations. This is true if they operate in commercial spaces or as home-based businesses.

Special considerations need to be reviewed for personal care services because of the extraordinary liability that can arise in these businesses. For example, if a child is injured or dies while in a daycare center this creates an enormous liability for the business owner.

It is always a great idea to consult with your insurance agent at Bob Korvas Agency Inc., serving Niles, IL and the surrounding area, to understand how commercial insurance can be specifically tailored to meet the needs of your personal care business.

For some of these businesses, they use personal care products and have the risks of their clients having a negative reaction to said products. It can be something as simple as an allergic reaction that comes up as a surprise to everyone. Or it can be a serious product defect that is not really caused by the personal care business but was a problem created by the manufacturer.

Nevertheless, if someone is harmed by using any product in a personal care business, everyone involved will be sued. This includes the product manufacturer, the business owner, and the individual personal care provider who was the operator that applied these products. As a business owner, you want to make sure such risk is covered by insurance.

Personal Care Business Success

So much hard work goes into building up a personal care business that having it adequately insured is really an important factor in long-term success. By consulting with your agent at Bob Korvas Agency Inc., serving Niles, IL and the surrounding area, you will get the best advice about how to use insurance as a tool to protect your financial future. Contact them today for an up-to-date insurance review.